7 Types of Market Segmentation

Market segmentation is the division of a market into distinct groups of buyers. The goal is to build a homogeneous market group so that it can be targeted to market a particular product according to the needs, desires, and characteristics of buyers. The following are the types of market segmentation :

1. Geographic Segmentation

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Geographic segmentation is market grouping based on location aspects. For example, a place to live (the best selling Gudeg rice in Yogyakarta, the best selling chicken satay in Madura, the best selling apples in Malang and others). Geographic segmentation is very useful for marketers because it can be found differences based on geography.

2. Demographic Segmentation

( Source: Google Image )

Demographic segmentation is a market grouping based on aspects of gender, age, education, occupation, marital status, and others. Demographic segmentation is often applied in companies to determine the marketing strategy for the products or services offered. Demographic segmentation is also the most cost-effective and the most accessible way to identify targets.

3. Psychographic Segmentation

( Source: Google Image )

Psychographic segmentation is a market grouping based on social class, lifestyle, opinion, interest or personality. For example, Marlboro Cigarettes take the psychographic segmentation of a man’s cigarette, adventurous and full of challenges.

4. Behavioral Segmentation

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Behavioural Segmentation is a market grouping based on knowledge, attitude, use and response to a product. Behavioural segmentation is more tied to the consumer decision-making process.

5. Special Time Segmentation

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Special Time Segmentation is a segmentation that groups consumers only at certain times. Through this segmentation, brands will know that their customers only shop for their products at certain times.

6. Price Segmentation

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Price segmentation is a market grouping based on the economic capacity or purchasing power of consumers. Everyone has different economic abilities. Some people can afford to buy products at high prices, on the other hand, there are people who can only buy products at low prices.

7. Socio-Cultural Segmentation

( Source: Google Image )

Socio-Cultural Segmentation is a market grouping that becomes a further basis for market segmentation. For example, various markets have been successfully divided into segments based on the stage in the family life cycle, social class, core cultural values, subcultural membership and cross-cultural membership.

 

The following are the types of market segmentation. Hope it helps in targeting and marketing a product.


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